American Eagle Outfitters (AEO) Shares Gap Down to $23.06

American Eagle Outfitters (NYSE:AEO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $23.97, but opened at $23.06. American Eagle Outfitters shares last traded at $22.02, with a volume of 5581942 shares.

A number of equities analysts have commented on the company. Wedbush lowered American Eagle Outfitters from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research note on Monday, August 27th. They noted that the move was a valuation call. Zacks Investment Research lowered American Eagle Outfitters from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. UBS Group raised their price objective on American Eagle Outfitters from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Bank of America raised their price objective on American Eagle Outfitters from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, August 30th. Finally, ValuEngine lowered American Eagle Outfitters from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. American Eagle Outfitters has a consensus rating of “Buy” and an average price target of $24.80.

The company has a market cap of $4.23 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 2.00 and a beta of 0.83.

American Eagle Outfitters (NYSE:AEO) last released its quarterly earnings data on Wednesday, August 29th. The apparel retailer reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. American Eagle Outfitters had a return on equity of 20.24% and a net margin of 6.49%. The company had revenue of $964.85 million for the quarter, compared to the consensus estimate of $937.98 million. During the same quarter last year, the business posted $0.19 EPS. American Eagle Outfitters’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts forecast that American Eagle Outfitters will post 1.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were issued a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, October 11th. American Eagle Outfitters’s dividend payout ratio (DPR) is 47.41%.

In related news, insider Charles F. Kessler sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. Following the sale, the insider now owns 110,079 shares of the company’s stock, valued at approximately $3,082,212. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cary D. Mcmillan sold 16,993 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $24.87, for a total value of $422,615.91. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AEO. Cornerstone Wealth Management LLC acquired a new position in American Eagle Outfitters during the 3rd quarter worth about $273,000. First Quadrant L P CA lifted its holdings in American Eagle Outfitters by 660.9% during the 3rd quarter. First Quadrant L P CA now owns 4,459 shares of the apparel retailer’s stock worth $111,000 after buying an additional 3,873 shares during the period. MUFG Americas Holdings Corp lifted its holdings in American Eagle Outfitters by 99.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 6,407 shares of the apparel retailer’s stock worth $149,000 after buying an additional 3,193 shares during the period. Cerebellum GP LLC lifted its holdings in American Eagle Outfitters by 42.7% during the 2nd quarter. Cerebellum GP LLC now owns 7,442 shares of the apparel retailer’s stock worth $173,000 after buying an additional 2,226 shares during the period. Finally, Stanley Laman Group Ltd. acquired a new position in American Eagle Outfitters during the 3rd quarter worth about $204,000. 86.66% of the stock is currently owned by institutional investors.

About American Eagle Outfitters (NYSE:AEO)

American Eagle Outfitters, Inc operates as a specialty retailer that provides clothing, accessories, and personal care products under the American Eagle Outfitters and Aerie brands. The company also provides jeans, and other apparel and accessories for men and women; and intimates, activewear, and swim collections, as well as personal care products for women.

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